Understanding Trusts: A Guide to Tax Planning

TRUSTS

Understanding Trusts: A Guide to Tax Planning

Trusts are legal arrangements where one person (the settlor) transfers assets to another person (the trustee) to hold for the benefit of another person (the beneficiary). Trusts can be used for a variety of purposes, including tax planning, asset protection, and estate planning. In Australia, individuals and businesses benefit from our expert trustee services. We […]

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Testamentary trusts: what are they and why are they so beneficial?

Introduction A testamentary trust is a trust created under an individual’s will following their death. They may be contrasted with inter vivos trusts, which are ordinary trusts created during the settlor’s lifetime. Testamentary trusts may be: simple (for example, where the legal personal representative is to hold an asset for a minor beneficiary until they

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What is a trust, how are they taxed, and which one should you choose?

A trust is a relationship between: the trustee (who holds the legal title to trust assets for the benefit of the beneficiaries); and the beneficiaries (on whose behalf and benefit the trust assets are held). Are there different types of trusts? Yes. There are different types of trusts, for example: discretionary trusts; fixed trusts (including

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